Basic Accounting Terms

otros créditos – other receivables
Vendor – The individual or business from whom a company purchases goods.
current ratio – current assets/current liabilities
this ratio is an important measure of a company's ability to pay its short-term obligations
dividends – the distribution of assets to stockholders
Net sales – sales minus sales returns and allowances minus sales discounts.
Recordkeeping – Part of accounting that involves recording transactions and events, either manually or electronically. Bookkeeping
Accounting – Planning, recording, analyzing , and interpreting financial information
Approximately how many U.S. adults are projected to be over the age of 65 by the year 2050?
Consistency – A company uses the same accounting principles from year to year
Long-term assets: Plant Assets – Land: improvements, buildings, vehicles, equipments. Less accumulated depreciation
Capital – What the owner brings into the bussiness
Sales return – Credit allowed a customer for the sales price of returned merchandise, resulting in a decrease in the vendor account revivable
Apprоximаtely hоw mаny U.S. аdults are prоjected to be over the age of 65 by the year 2050?
Cost Of Goods Sold – When a product is shipped the total cost of manufacturing the product is expensed from inventory and recorded on that section of the income statement.

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